An earlier version of this story incorrectly suggested that the FDIC was considering allowing banks to include gold bullion as Tier 1 capital.

According to a spokesperson for the FDIC, the report in question actually proposes “no change to banking capital rules with respect to gold.”

A recent proposal by the FDIC created some confusion in the gold markets in part, because it includes language listing “Gold bullion” as a “Zero Percent Risk-Weighted Item”, equivalent to cash and T-bills.

Several reports suggest that recent proposals would in some way redefine or, revalue gold in some way as it relates to the Tier 1 Capital of a bank.

Gold bullion is currently considered a zero percent risk-weighted asset because it poses no credit or, counterparty risk.

Market participants have been listening closely for any hints that rules regarding capital requirements and liquidity buffers at banks will include a change for gold.

"I think we never get the candidate we exactly want unless you're the candidate." Rand Paul.

It will either seize gold holdings at the Fed and back the worlds money supply with gold, or it will be the primary force fighting that. The latter is most likely when America's debt are taken into account.

A nasty Golden Harp could soon have its cords plucked, with the resonance working to shake loose the bankster cover of improper illicit duplicitous and probably highly illegal usage of Allocated Gold Accounts. When diverse scattered accounts are pilfered and depleted without authorization in Switzerland, resulting in several multi-$billion class action lawsuits in Zurich, all kept dutifully out of the news, that is one thing. But when a few key official government gold accounts are ransacked in systematic fashion from established trusted locations, defying and betraying the trust of the German Govt and other national governments, that is quite another. To be sure, the system can tolerate ransacking and replacing with scurried harried efforts the Venezuelan gold account like in 2011. The media told the story with creativity and aplomb, avoiding the truth, inventing a tale, but finding a credible pile of dung to feed the public, which swallowed it whole. The global monetary war has been raging for four years, ever since the Lehman Brothers firm was targeted and destroyed with planning and motivated execution, for the benefit of Goldman Sachs full CDS redemptions and exploit by JPMorgan in war chest reload under cover of bankruptcy court orders. The media prefers regularly to refer to the global financial crisis incorrectly and improperly. A crisis passes after a year or so. This war lingers like WWI and WW2 and Vietnam, with a clear emerging agenda to defend the USDollar regime from global isolation shun, to conceal the USTreasury Bond support mechanisms in derivatives, to avoid the US banking system from grotesque insolvency but kept afloat by grand money laundering channels, and to motivate an endless war to secure resource thefts and control that center on oil fields and the poppy fields. Witness the slow gradual inexorable collapse of the global monetary and financial system.

This is a global monetary war as last hurrah for the longest running fiat paper currency regime in modern history, which has run from 1971. The current dying regime has been held up by pressure to maintain USDollar support and not diversify away from it. It has been held up by amplified usage of derivative support in the form of Interest Rate Swap contracts, thereby keeping USTBond yields ultra-low in the face of chronic $1.3 trillion USGovt deficits, and creating an illusion of a flight to safe haven. It has been held up diverse comical USFed support in the form of a cornucopia of liquidity programs, to supply the big US banks with never ending bond redemption and carry trade aid. The current dying USDollar regime has culminated in an admitted permanent monetary policy identified by a toxic 0% official rate and the emerging reality of limitless bond monetization. It has been held up profound distortion of economic statistics, which have become almost laughable in the abuse.

To call this a financial crisis is like calling Hurricane Sandy just a bad storm, or calling a devastating drought just a dry spell, or calling raging cancer just a growth aberration, or calling a rape violation just an unfortunate encounter, or calling a death sequence just a passing, or calling a business bankruptcy just a bad skein on its account, or calling a home foreclosure just an opportunity to clean house. The nation and the world are undergoing a death sequence for the USDollar regime, and a vigorous corrupt defense to extend its life, in order to maintain power, to continue gigantic thefts, to perpetuate gigantic bond frauds, and to enable foreign account thefts of the traditional type and related to gold. The hidden motive in the Libyan overthrow of Qaddafi was to steal his 144 tons of gold held in London. The banksters needed it. The action and the reporting of the events were typical distractions laced with fiction.

HORRENDOUS STORM DAMAGE
The nation is heavily distracted by the Hurricane Sandy, its wind, its water, the resulting floods, the resulting electrical power outage, and ruined businesses, the controversies over flood damage versus wind rain and storm damage for insurance coverage. Look for Sandy to surpass Katrina in its total storm damage, which was $105 billion in 2005. Basic research indicates Sandy and Katrina had much in common, as the mad scientists attempt to play god. The efforts to produce a mild winter a year ago might have had a sling shot effect of generating a potent drought. The path was open for a unique storm, called once in a century, for the NorthEast. My memory is clear of the last hurricane to hit the region, which was Julia. The Jackass taped windows in the Boston area all for naught, since the 50-60 mph winds were nothing but a nuisance and cause for numerous downed trees on power lines. This storm is for the history books, perhaps retaliation by Mother Nature for messing in her kitchen, maybe worse. She always reaps her wrath and delivers her vengeance. The High Frequency Active Auroral Research Program has a shady sinister tone, but it is beyond the scope of the Hat Trick Letter. What Mengele was to medicine, HAARP is to meteorology. What Fort Dietrich is to viral weaponry, it is to weather control and seismic generations. What Monsanto is to modified genetic foods, it is to weather developments. The public seems laughably ignorant of devices to produce earthquakes and to amplify then steer storms, with nuclear power packs. Tesla notes and dreams have indeed come to life. Some personal contacts have close colleagues who actually worked on the project for the Boyz.

The delusional dopey derelict US economists have surfaced with their errant vacant viewpoints of a reconstruction benefit boost to the USEconomy. If only all could break windows and direct garden hoses in living rooms, the national economy could recover quickly. The key news item is that finally the New York Stock Exchange was finally shut down for two days due to uncontrollable liquidity and its widespread damage, due to a Hurricane Sandy Weill margin call on systemic failure. No amount of high frequency flashes to dry out the systems could succeed. No amount of plunge protection teams could open the drains beneath the damage. No amount of derivative exercises could bring workers to the trading pits.

The storm damage is estimated at $20 to $25 billion, again in a process divorced from the real world. Recall the Fannie Mae bailout estimates for $50 to $100 billion at first. Recall that the Iraqi War costs were $200 to $400 billion at first. The Jackass cited cost forecasts multiples higher, all accurate. Quick footnote on storm aftermath. Think Desert Storm, or Desert Shield, or whatever mucky name they offer. The yellow painted bricks taken from the Iraqi central bank were really gold bricks, stolen, then covered by a lame news network story gobbled up by the incredibly braindead public. In a few weeks, some concocted story might emerge about how the New York Fed was without electrical power, its vault systems left unsecure.

The Hurricane Sandy storm damage will reach far past the $100 billion level, probably closer to $200 billion. The center of the impact was the NorthEast, the most densely populated area of the country. Already 20% of the entire US population has been affected, with almost 7 million homes without power. Insurance firms will be depleted, at a time when their income has been hampered by the ultra-low USTBond yields, coupled with mortgage bond losses. The USFed will receive a big boost in destroying final demand, as the central bank has conducted a hidden agenda to keep commodity prices down by harming the general economy and thus reducing final demand. They will next enjoy hypocrisy of high order, as the economy pauses, then energizes with rebuilding and cleanup. The central bankers will talk of a boost and stimulus. The price of lumber and cement might become a problem later on. Time to fix the broken windows and mop up the flooded living rooms. It is all good, as people are back to work, the economic recovery enhanced.

GOLD WAR STAGE SET
Back to the topic today. The global monetary war has escalated. It began with a profound bond fraud backed by mortgages, often with duplicate usage of income streams. It extended to sovereign bond wreckage, from deep government deficits, from wasteful bank aid to ward off insolvency, and lost trust of heretofore sacrosanct bonds. The war continues. It extended to the desperation by big Western banks to redeem their bonds by USFed and EuroCB largesse, even if illegal, even if unsterilized, even if the averted liquidations wreck the national economies, even if the actions directly result in a higher cost structure, even if bank runs are inevitable. It extended to destabilize further the fragile Middle East nations already beset by rising food prices, so that the departing leaders could either leave with gold wealth (see Tunisia) or have their foreign accounts stolen (see Libya). Tiny Ghana demanded its gold return from London, but suddenly its leader showed up dead. Syria does not have oil wealth, but it does possess valuable ports (see Russian naval port in Tartus). The global monetary war extended to collateral grabs and seizures, like in Greece, but with an entire table full of similar attachments being done in Italy, Spain, France, Portugal, and elsewhere, mostly in deep secrecy. It extended to exert extreme pressures on the European Commission to bend the rules, and to European Central Bank to bend the rules, and on the German High Court to bend the rules. The banker elite require rule changes in order to perpetuate the redemption of their busted portfolios at public expense from additional government deficits. One must be a billionaire to receive public aid, as the commoners need not apply.

THE GOLD WAR BEGINS
The absence of solutions offered has forced the major central banks into heretic caustic and destructive policies that are stuck in place. The nations involved are all uniformly subjected to the 0% corner, with their monetary spew reaching all corners of the world. The US Federal Reserve leads the way in justifying the highly destructive ZIRP and QE, the powerful 0% free money clarion call joined by endless bond monetization to pay for the wide stream of federal deficits. The Weimar America has produced a Pied Piper effect among the major central banks, coerced by a powerful Competing Currency War factor, where all must join or see their currencies rise to dangerous levels, sufficient to render deep economic damage in the vaunted export trade. The USFed in effect attacks the successful coveted export trades by monetary recklessness. The impact from the Global QE to Infinity, which the Jackass made reference to in 2011 long before other analysts, is to cause a defense from currency debasement. Wealth is under heavy attack. The impact has caused an undercurrent by the US and UK bankers in pursuit of gold supply to satisfy demands, like from Venezuela. The principal sources of gold continue to be the Bank of England, the Bank For Intl Settlements, and the Roman catacombs. The elite are having their gold vaults raided, done as loans to the major central banks and bullion bank centers. Resentment builds.

Alternative supply sources have been urgently needed, thus the project in Libya. Thus the MFGlobal thefts. The list goes on, but the need is rising far faster than the channels can be supplied. Desperation has set in with the major bullion bankers and their clever craftsmen who manage markets with leverage, derivatives, and propaganda. The Gold War is escalating, as the insolvent bankrupt and desperate Western bankers are resorting to whatever means to locate gold assets. They have a two-fold double whammy at work. They must find new gold supply in order to shore up their own insolvent systems based upon gigantic flawed paper structures built atop debt structures. They must also find new gold supply in order to satisfy gold demands within the LBMA and COMEX, or else face market defaults that expose the acute shortage of Gold & Silver. The MFGlobal theft of private accounts was a direct assault and crime scene designed to satisfy a Silver market demand delivery schedule. Investors awaiting silver delivery had their accounts stolen. While permitted by regulators and the courts, the warning was given for a call to arms to protect and preserve true wealth held in gold accounts. It must be located and secured before it is stolen by the London and New York bankers.

OFFICIAL GOLD REQUESTS AS ESCALATION
The bond fraud and gold market fraud and futures brokerage fraud and central bank bond monetizations, and desperate reactions to insolvent broken national banking systems, and continued flow of government red ink in deficits, all these activities have motivated nations to check their gold bank accounts. What they see scares them witless, but it pushes them into action. The demand by Chavez in Venezuela over a year ago served as a stark wakeup call. Imagine mature experienced savvy German bank officials observing a socialist backwater Latino renegade like Chavez leading the way in defense from Western banker corruption and colossal thefts. Finally, the Germans are taking action. They tried in September to view their gold account in the New York Fed, but were turned away with insults and disdain. Word has come that the shun event in the Big Apple was probably the fifth time in the last few years that a German delegation has been turned away. The situation is as complex as it is dicey. The Germans under the Deutsche Bank flagship had been a principal accomplice and cooperative partner in the great gold game, where as a large collusive group they leased national gold, dumped it on the market, supported their paper currencies, while the banking elite speculated and profited in the $trillions on leveraged bets that were basic betrayals of their nation. The Jackass prefers the words financial treason. To use the metaphor, the Golden Harp will be busy causing deep damage to the global financial structures, from its broken bond foundation to its uncollateralized major currencies. The Golden Harp will act as a great destroyer from the financial tectonic plates that stand as the faulty bond foundation, to the stormy ether in which the baseless currencies float in infinite volumes.

Some historical research reveals that the infamous Brown Folly had a basis in aiding Deutsche Bank. The Bank of England was directed to sell a huge lot of its national gold treasure between 1999 and 2002 to mark the Gold market bottom. It was not sold, but rather handed to D-Bank in order to satisfy a big margin call. They aided both D-Bank and Goldman Sachs, each heavily short and at risk. The Gordon Brown action was done with two unusual signpost markings. The sale was announced in advance, thus permitting front running by London and New York bank buddies. It was done in auction, to assure the lowest possible price. The actions set the low. But the actions bailed out D-Bank secretly. The aid to GSax was one of a string of ugly pearls, which the arrogant elite firm never seems to mind and never bothers to cover up too effectively. They benefited from the TARP Funds as #1 son in the family. They did work feverishly in 2009 to conceal their Unix box for tapping into the NYSE for peeking at trades, front running them, and skimming pennies on billions of trades. They enlisted the help of the FBI to arrest the Russian rogue, painting him as a villain, even prosecuting him, despite the clear legal violations from the GSax tool. He tried to show the world what scum GSax was, how they were common criminals in white collar crime. Back to Germany.

In the summer 2012 months, a significant sequence of events took place. The CEO Josef Ackerman was ousted finally. Few realized that his removal was a key event in the change of tide against the Western banker elite. The story went largely unreported. As leader of D-Bank during many years of solid cooperation with London and New York banker games and gimmicks, he knew too much. My best info source reported last spring that several Interpol agents and high level investigators occupied Ackerman’s office while he was present. They obtained files, downloaded documents, and had their way. The shocked CEO made a phone call to an attorney, and was frustrated at the lack of pull. He made another phone call to a ranking judge, but again was frustrated at the lack of pull. He was told that the raid was done from a higher level than the German Govt. The Jackass was told that the raid was the work of a powerful new sheriff in town, with Eastern entity connections, hell-bent on justice, with a no nonsense attitude, with staggering wealth at their disposal.

The global monetary war extended in March, April, May, and June to a profound powerful run of gold bullion by Eastern entities against London banks. Margin calls of unusual type prevailed, where cash cannot satisfy the margin calls, where wrecked leveraged bets on currencies and bonds demand action taken to fortify the margin. In all, approximately 6000 metric tons have departed London bank vaults since March, all headed East, in the biggest raids in modern history. The US press, London press, and Western European press have been silent. The silent spring reminds one of the missing bird chatter from DDT decades ago, chronicled by Rachel Carson. The toxic paper has a chemical parallel. These London trades have been the object of Jackass study for a couple months. My firm belief, backed up by hints of confirmation from sources, indicates the Eastern pressures on London banks could involved enormous amounts of Official Gold Accounts and private Allocated Gold Accounts, improperly used (rifled, pilfered, stolen) for the original margin placement. Satisfy the margin call with like kind asset. Conceal the gold account seizures, but in the process the owners recall their gold bullion in huge volumes, with deals cut and secrecy maintained. The London bankers find their nether onions caught in a powerful vise, and the Easterners are hardly in the mood to relieve the pressure.

GERMAN AND DUTCH DEMANDS
The German Govt demands a full accounting of its official gold accounts held in foreign lands. They demand a careful accounting that involves inspections, weighing, assurance of gold proof, and examination of markings, perhaps even some testing of bar cores. They demand an accounting that cites locations and storage. They demand a full complete audit. The distrust is thick. James Turk, founder of Gold Money, believes the German gold is all gone, used up in the two decades of gold games that defended the fiat paper currency regime. He lives and works in London, has ties there, and probably is privy to the grapevines. The order is part of a compromise between the German central bank and the Audit Court, which has called on the Bundesbank to take stock of its gold holdings outside Germany, saying it has never verified their existence. Apparently, no longer will the word of the New York Fed or the Bank of England be sufficient. They have been caught lying too often. They have been implicated in deep bank corruption too often. They are being depleted of their gold, in regular shipments to cover the demands, the evidence for which is detailed in the October Hat Trick Letter. Call it backlash from the Quantitative Easing and infinite endless unlimited bond monetization that is an absolute guarantee of systemic currency ruin. Call it a backlash from the sequence of rogue bond redemption plans declared by King Draghi at the Euro Central Bank. The Western Governments are scurrying to locate their Gold reserves, realizing that Gold is the only wealth asset they possess, except for the buildings and edifices that house their depleted gutted central banks.

My firm belief is that the Gold Wars have reached a new level, where Germany will be disappointed when it learns the gold is gone. To be sure, big distractions and absurd excuses will be offered. The pressure is on. The Dutch have joined the movement in making demands on London and New York. The call to the corrupt fortress is plain: WHERE IS OUR GOLD?? Maybe like with Jericho, after several calls the walls will fall. The irony is thick, since for 20 years the Western leaders have proclaimed gold as a barbarous relic that pays no yield, a dead asset. So the Germans with Dutch echo want a full accounting of their prized so-called dead asset, which in the end will provide salvation when the new monetary system is put in place. That system is ready, with full trade settlement foundation. It awaits the monetary system full collapse.

The outcome will be shown soon enough. The London and New York bankers improperly used the German gold, and official gold from numerous accounts like from France and Spain, from Venezuela to Mexico, to enforce the Strong Dollar Policy and to defend against its collapse. The Mexicans this month performed a formal genuflection before the London Banker Kings, announcing no need to repatriate their gold, as full confidence was expressed. What lackeys, likely offered a bone somewhere. Allocated Gold Accounts have been pilfered with governments as the owners. They will be angry. They must walk a fine line to express outrage but to protect from revelations pointing to their own complicity and benign neglect. The flagship bank of Germany which bears the national name has been deeply involved. In recent months, D-Bank has been cooperating with the Interpol and Intl Court of Hague in pursuing the banker corruption and high crimes against currency, wealth, savings, and humanity. Delicate deals have been struck with D-Bank. It will be interesting to observe how the German demands for gold account audit are met, and how the German Govt reacts to delays and coverup. My belief is that the D-Bank flip was key to the breaking of the LIBOR bank scandal.
GOLD PRICE REACTION
The Allocated Gold Account scandal is at the doorstep. The German Govt demand for full accounting of its foreign gold account is the knock at the door. They were shown extreme disrespect by the New York Fed in September. The recent demand is the consequence, in a ramped up escalation of the conflict, better described as gold war. My best gold trader source has assured that the eruption of the Allocated Gold Account scandal will come in the wake of the LIBOR scandal. They are related links in the exposure of big bank corruption. The LIBOR scandal began the process of investigation, discovery, and action, if not prosecution. Word repeats from key sources that the biggest banker criminals will never see justice. They will just vanish. An important consequence of the LIBOR followup is the lack of trust between bankers. They are all under investigation for collusion, and therefore must be silent as each is subject to indictment and lawsuit damages. The discovery process is unique, as the investigations can legally pursue and request documents, conversations, emails, and testimony that was previously not available. The strong crowbar is being used widely by strong arms and hands, with formidable bodyguards behind them. The Allocated Gold Account scandal is at the doorstep, possibly to break open by German demands.

The official in major nations are catching on. Expect more national government officials to make demands of London and New York. They suspect their national accounts are stolen, replaced by gold paper certificates, kind of an IOU left behind by the thief with defiant signature. Now a new twist. Romania has joined, as they recently demanded a full audit of their national gold account held by the Kremlin. The irony and contrast is due next. Expect the Kremlin to comply with the request from Bucharest. Their responsible response will put additional pressure on the corrupt Anglo banking centers, the site which the Jackass has long described as the center of the financial crime syndicate. The contrast will be embarrassing to the Western financial centers and their leaders, the dons to syndicate power.

The Gold price is sure to respond to the realization that the London and New York bank vaults do not contain the official gold on account. Supply is not in existence, sure to have an effect on price, as demand escalates globally. The trust has been violated. The anger will be acute. The global reaction will be recognition that the Western Governments do not possess the gold they claim to reinforce the integrity and value of their entire monetary systems. What faith remains in the fiat paper system will vanish quickly. Not only are the various sovereign bonds nearly worthless, but the collateral understood to reinforce their value is gone. The monetary system deserves to be foreclosed upon. The global currency system with the USDollar at its center deserves to be removed, replaced, and reconstructed.

Recall Jim Sinclair and his numerous calls between years 2005 and 2007 for a $1560 Gold price. Many called him crazy, but he was proved correct. The critics to the Gold Sound Money Movement still do not show respect. Rather they are loaded with contempt, clinging to failed Keynesian principles and empty beliefs that central banks can install solutions. They are best qualified to manage their gold thefts, manage the heavy narco money laundering, manage the multi-$trillion grants to banker colleagues, manage the bond shell games, and clean up after the mortgage bond frauds. Those are their best work accomplishments. The Gold bull market is entering an important second gear after a long year of consolidation. The feckless idiots who claim the Gold Bull is done seem the most ignorant in the financial classroom, the dumbest and most deficient in mental processes.

The Gold bull market has several primary cylinders.
1) Negative real rate of interest. With official interest rates stuck under 1% by all major central banks, the actual interest rate after subtracting price inflation is deeply negative. This factor has been and will continue to serve as the most important among many factors. It is the gigantic blind spot among gold critics. The long-term USTreasurys offer a mere 2% or 3% at most, far below the prevailing price inflation in the real world. Effective returns are thus negative. Investment in Gold as a hedge against the absent compensation for the erosion of money, it just makes sense.
2) Bond monetization. With unlimited bond purchases from QE1, then QE2, then Operation Twist, now QE3, and on and on until QE175, the debasement of currency is entrenched, absolute, and shocking. The movement is joined by the Euro Central Bank, the Bank of England, the Swiss National Bank, and the Bank of Japan. The debasement of money is powerful and without abatement. Investment in Gold as a hedge against the reckless production of bond supply, it just makes sense.
3) Unsterilized bond purchases. The QE3 admission of associated bond sales was a story not adequately told. In fact, it was a story told by omission. In the past, especially with the deceptive Operation Twist, the bond purchases were often made with funds derived from other bond sales. Like sell short-term USTBills in order to have funds to buy long-term USTBonds. The QE3 details indicate that Weimar Amerika has arrived, with extraordinary bond purchases using printed money. The debasement of money has turned nuclear. Investment in Gold as a hedge against the unchecked debasement of money, it just makes sense.
4) Permanence of QE. In the summer months of 2009, the Jackass was vocal and adamant, claiming that the Exit Strategy was a ruse, an impossible door to depart from the drastic desperate duplicitous central bank monetary policy. My stated forecast was that the ZIRP would remain and become permanent, and that QE would come in force. The buyers of USTBonds are long gone, except for other central banks playing the Competing Currency War games. The USFed under Bernanke announced last month that ZIRP would be extended until the end of year 2015. This is an admission that it is permanent. Every three to four months, they assure another year of permanence. The debasement of money has become a permanent fixture in a broken buggy. Investment in Gold as a hedge against the permanent debasement of money, it just makes sense.

GOLD BULL BILLBOARDS
The Quantitative Easing coupled with Zero Percent Interest Policy are dual firing chambers of a central bank shotgun aimed at destroying money. They will destroy wealth. They will destroy economies. They will destroy banking systems. They have already destroyed the central bank franchise system and bank integrity. Their actions will lead to a global rebellion against the USDollar, a movement well along. They will assure a USDollar isolation. They will bring about a replacement trade settlement system, which is actually almost in place. When combined with flat-footed Iran sanctions, the movement has accelerated to find USDollar alternatives in trade, and to diversify away from US$-based assets held in reserve.

More importantly, the QE and ZIRP assure the Gold price will rise past the $2000 mark, and that the Silver price will rise past the $60 mark. That is the direct eventual unavoidable effect of QE & ZIRP, the signal flares of central bank failure and monetary system ruin. Their permanent monetary easing is incredibly bullish for the Gold price, a guarantee of an endless bull market. As long as the bond monetization continues with the 0% official rate, the Gold bull market will be equally enduring and endless. It is that simple!!

The QE & ZIRP assure the breakout to new highs. However, the Allocated Gold Account scandal will assure the Gold price reaches $5000 and the Silver price reaches $200. The scandal has begun. The stage is set. The official Gold Accounts from foreign nations have been taken. Choose your word: improperly used, illicitly seized, illegally stolen, desperately hypothecated. The point is that national gold treasures held in London and New York have vanished over the last 20 years, a process begun with the Clinton-Rubin Admin, continued with the Bush-Paulson Admin, defended by the Obama-Geithner Admin. The names of the administrations must include the Goldman Sachs representative in charge of the USDept Treasury, the guy with the stealing rights, as my friend in Reno colorfully calls it.

THE HAT TRICK LETTER PROFITS IN THE CURRENT CRISIS.
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Jim Willie CB is a statistical analyst in marketing research and retail forecasting. He holds a PhD in Statistics. His career has stretched over 25 years. He aspires to thrive in the financial editor world, unencumbered by the limitations of economic credentials. Visit his free website to find articles from topflight authors at www.GoldenJackass.com. For personal questions about subscriptions, contact him at JimWillieCB@aol.com

The Fed doesn't own any gold. They do store gold for the US Treasury as well as some other foreign governments though.

So the moniterization of the gold held by the Treasury thorugh the issuance of trillions of dollars by the banks of The Federal Reserve has now been redacted?
No problem if so. This should have been done quite a long time ago. But it is news to me.

In due time a universal gold standard will be implemented after the elite plutocracy have successfully looted and pillaged the worlds gold mines/reserves. If the United States hopes to survive, we must break off the central bank, add an amendment to our constitution to ban government borrowing (which Jefferson supported), and return to an interest-free paper money system. This whole idea that fiat currency is the devil is a huge misconception, it worked for the British colonists before the mother country forced the gold standard on the people with parliaments signing of the currency acts. The Greenbacks were also highly successful and promoted a strong economy, until the Federal Reserve Act of 1913 began to destroy them. The British's talley stick system even worked for hundreds of years until they allowed the Bank of England to take over their currency in the late 1600s. Paper money can and will work so long as we control the quantity of its printing and prevent a private central bank from controlling its interest rates. Just watch this documentary, you might learn something: